Cryptocurrency market is maturing and the number of hardware wallet solutions hitting the market every quarter or so is a testimony to it.
You have so many hardware wallet options available now that you might just become confused. Some of these wallets are good, and some are just shit.
On a similar line, I am aware that you are having a hard time deciding between Ledger Nano X and Trezor Model T. To ease your worry out I want to extensively compare between Ledger Nano X and Trezor T so that you can decide for yourself which hardware wallet is suitable for your cryptoasset security.
In this guide, we will compare both these hardware devices (Nano X & Trezor T) based on the following 8 criterions:
- Based On Security
- Based On Supported Size & Design
- Based On Mobility
- Based On Number Of Supported Coins
- Based On Compatibility With Other Softwares
- Based On Native Apps
- Based On Setup Process
- Based On Value For Money
Let’s get to business right away:
Ledger Nano X vs. Trezor T: Introductory Summary
Ledger Nano X is the newly launched hardware wallet by Ledger SAS. Ledger SAS is a pioneer company manufacturing digital asset security products since 2014 and is based out of Paris, France.
Ledger Nano X was announced early this year and started getting shipped in late May 2019. So it is a relatively the newest hardware wallet available right now in the market.
Trezor Model T is the flagship product of SatoshiLabs, a Czech Republic-based company who pioneered the era of hardware wallets. SatoshiLabs is manufacturing Bitcoin and crypto hardware wallet since 2013.
They launched the Trezor Model T last year, which was also their 5th anniversary. Model T is touted as the next-generation hardware wallet explicitly designed for the security of your digital assets.
PS: If you don’t want to read the full review and want a single recommendation, just go for Ledger Nano X because it is hands down the best hardware wallet for cryptocurrencies in the market right now !!
Ledger Nano X vs. Trezor T: Based On Security
I have used Ledger Nano X and Trezor T both that’s why I rate them equally in their security. I know Ledger Nano X is not fully open-source, but it is still secure than keeping your cryptos open in software wallets.
Ledger Nano X uses a dual chip architecture where you have a general-purpose MCU and another a secure element MCU (SE MCU). The secure element is mainly responsible for the security of your seed/private keys, and the other MCU serves as an abstraction layer to facilitate communication between the SE and the user’s smartphone/desktop.
Inside these MCUs is the BOLOS operating system, which is a proprietary system of Ledger SAS, and this part is not thoroughly peer-reviewed because it isn’t open source.
But with these limitations also Ledger Nano X cannot be hacked easily unless someone has physical access to your device and knows your PIN code. Otherwise, it isn’t possible to hack.
On the other hand:
Trezor Model T has only one chip or one micro-controller for generating and storing the private keys. Also, unlike Ledger, Trezor is an entirely open source project.
Now, which one is better?
Well, I will like to comment that the open-source system gets peer-reviewed a lot. Hence, in the long run, remains more secure and scalable.
However, I acknowledge that closed systems with secure hardware like Ledger makes it difficult for the attackers to carry on a successful attack. But being a closed system also means that other attack vectors to exploit the devices will be unknown or will be found at a prolonged rate as compared to open source.
So I think in terms of security, Trezor has a clear edge over Ledger. But one cannot just write off Ledger Nano X for being closed source because in future I believe it is going to be open source. Also, other features to be compared before deciding between Nano X and Trezor T, so let’s get down to those.
[Winner: Trezor T]
Ledger Nano X vs. Trezor T: Based On Supported Size & Design
Trezor Model T looks like a chained clock in your hand and gives a premium look with its touch screen. It also has two buttons on the front to help you negotiate with the user interface and option seen on the screen.
- Content of the box: Trezor Model T device, Model T magnetic dock, USB-C cable, 2x Recovery seed booklet, Trezor stickers
- Dimension & weight Size: 64 mm x 39 mm x 10 mm & Weight: 16 g
- Materials: Plastic. No battery required.
Whereas Ledger Nano X’s design I like more and it gives a rad look on your hands. It has an OLED screen which is stylish, but it isn’t a touch screen like Trezor T. But in my opinion, the touch screen is not required also.
The buttons have come at the front in comparison to its older model and in terms of size, and it is a bit smaller than Trezor T but a bit heavier. Almost twice as heavy than Trezor T but that’s because of battery, more on this later.
- Content of the box: 1 hardware wallet, 1 USB cable, 1 getting started leaflet, 3 recovery sheets, 1 keychain strap
- Dimension & weight Size: 72mm x 18.6mm x 11.75mm & Weight: 34g
- Materials: Brushed stainless steel and plastic. Battery required.
[Winner: Ledger Nano X]
Ledger Nano X vs. Trezor T: Based On Mobility
When you compare for mobility, Ledger Nano X wins over Trezor T or even any other hardware wallet hands down because of its battery and Bluetooth feature.
Ledger Nano X is having 100 mAh battery so it can last upto 5 hours making it the perfect mobile hardware device. The battery life is 5 years if used properly. Also, the Bluetooth feature facilitates connecting your hardware device to iOS and Android devices without any USB cables.
Whereas Trezor T lacks a battery, which I think is pre-requisite for becoming a truly mobile device. Further, it doesn’t support wireless connectivity, but you can surely use Trezor Model T on your android device using the USB C type or a connector. This yet doesn’t support iOS mobile devices.
[Winner: Ledger Nano X]
Ledger Nano X vs. Trezor T: Based On Number Of Supported Coins
Ledger Nano X supports more than 1100 cryptocurrencies and tokens. Of course, there are third-party apps which allows Ledger to support so many coins.
On the other hand, Trezor T support 1000+ cryptocurrencies and tokens with the help of its own native client and other third-party apps.
So Ledger is slightly ahead of Trezor T here also.
[Winner: Ledger Nano X]
Ledger Nano X vs. Trezor T: Based On Compatibility With Other Softwares
Ledger Nano X is compatible with 64-bits desktop computer (Windows 8+, macOS 10.8+, Linux) excluding ARM processors and also compatible with smartphones (iOS 9+ or Android 7+) with USB, OTG, and Bluetooth.
Trezor T is compatible with desktop computer (Windows t+, macOS 10.11+, Linux) and also compatible with Android smartphones. Note: No support for iOS is there.
When we speak of compatibility with third-party apps like MyCrypto Wallet, MyEtherWallet, Electrum wallets, etc. both the hardware device stands equal ground.
[Winner: Ledger Nano X]
Ledger Nano X vs. Trezor T: Based On Native Apps
Ledger Nano X and Trezor T both have their native apps, which allow you to connect with the devices and provides you the necessary interface to manage your cryptocurrencies.
But this is quite straightforward as I have used both Nano X’s Ledger Live app and Trezor T’s Trezor app for a decent amount of time. Ledger Live app is much robust, fast, and user-friendly to use.
Plus the mobile version of Ledger Live app when used with Nano X’s Bluetooth feature is just amazing. Having said that there are issues of account name synchronization when you use the app in mobile and desktop, but I am anticipating a solution in the next update of the app.
Whereas Trezor app does the job well, but it could have been better, and I have no hesitation in saying that the mobile experience of the app is not so good and requires a lot of work when compared to Ledger Live’s app.
Also, with Ledger Live app, you can keep a tab on your currencies stored on the device without connecting it whereas, in Trezor, you need to connect the device.
[Winner: Ledger Nano X]
Ledger Nano X vs. Trezor T: Based On Setup Process
The initial setup process of both the hardware device is identical.
For Ledger Nano X, you need to:
- Start the device by plugging it in a desktop or mobile or connect using the Bluetooth.
- Download and install the Ledger Live app
- Initialize the device and write down the seed words it shows.
- Confirm those seed words.
- Set a PIN & you are ready to use the device through Ledger Live app
For Trezor Model T you need to:
- Download and install the Trezor app.
- Connect the device to a desktop and install the firmware as Trezor comes without it.
- Once the firmware is installed, remove and replug your device.
- Select ‘create a new wallet’ and take the back-up of the recovery seed.
- You are set to use your Trezor Model T.
Note: Trezor & Ledger both have a C-type port and also provides USB-C connector in its tool-kit for connecting to your desktop or mobile phone.
Ledger Nano X vs. Trezor T: Based On Value For Money
|Parameters||Ledger Nano X||Trezor Model T|
|Size||72mm x 18.6mm x 11.75mm||64 mm x 39 mm x 10 mm|
|No Supported Coins||1100+||1000+|
|Official Buy Link||Buy Now||Buy Now|
I think after reading this comparative table, it should be clear that Ledger Nano X is value for money and there is no point paying $40-$50 extra for Trezor T. Ledger Nano X also looks like a future-ready device which will surely help the community in safeguarding their cryptoassets for long term
However, if you are some who is skeptical and wants only an open-source device, then you are more than welcome to buy Trezor Model T, and it will do the job for you.
For conclusion, I would like to say that it is interesting to see how the race to provide the best security for your digital assets is catching up.
May the best product win and help in leapfrogging this industry from the clutches of hackers because any hardware wallet any day is much better than keeping your cryptos in an exchange or software wallet.
So stay safe and stay alert.
Don’t be frugal and get a cryptocurrency hardware wallet for yourself now !!
Now you tell us: Did you liked this comparison of Trezor T and Nano X? Which hardware wallet are you planning to buy? Are you still confused and have questions? Write to us in the comments below, and we will make it easy from there !!
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.
- Ledger Nano X vs. Trezor T: Introductory Summary
- Ledger Nano X vs. Trezor T: Based On Security
- Ledger Nano X vs. Trezor T: Based On Supported Size & Design
- Ledger Nano X vs. Trezor T: Based On Mobility
- Ledger Nano X vs. Trezor T: Based On Number Of Supported Coins
- Ledger Nano X vs. Trezor T: Based On Compatibility With Other Softwares
- Ledger Nano X vs. Trezor T: Based On Native Apps
- Ledger Nano X vs. Trezor T: Based On Setup Process
- Ledger Nano X vs. Trezor T: Based On Value For Money